Prominent economist Peter Schiff is once again taking shots at Bitcoin (CRYPTO: BTC), highlighting its underperformance against gold.
What Happened: In a series of posts on X, Schiff noted that Bitcoin’s value in gold terms has fallen 24% since its 2021 peak, framing Bitcoin’s weakness as a “stealth bear market” while gold, as “real money,” continues to appreciate.
He pointed out that currently one BTC buys 27.7 ounces of gold while in 2021 it could purchase 36.3 ounces of gold.
In an X post on Thursday, Schiff pointed out that while gold is surging towards $3,000 per ounce, both Bitcoin and stocks are in decline.
He questions why the U.S. government is considering a Bitcoin reserve rather …
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